This week, ClearTax raised Rs 80 Crore from SAIF Partners. Microsoft acquired LinkedIn for $26.2 billion. Didi Chuxing outshines Uber, raises $7 Billion in latest funding round. Let’s take a look at some of the funding and acquisition news which made headlines in the startup space.


1. Yatra acquires Bangalore based MGaadi

Gurgaon-based travel booking website has acquired auto rickshaw aggregator mGaadimGaadi is a Bangalore-based commuting service founded in 2012. It is operated by Drivers Network, a social enterprise, and claims to have more than 13,000 drivers as part of its network. Terms of the deal were not disclosed. As a part on the deal, its employee transportation platform – Cartr and related mGaadi technologies will be integrated into Yatra’s products.

2. Lok Capital raises $41 million in third fund

Lok Capital has achieved the first close of its third fund—Lok Fund III—at $40.5 million (about Rs.270 crore).  The firm plans to make around 14 investments from the third fund with an average ticket size of around $6 million. Lok Capital will continue to collaborate with LPs for joint investment in larger deals, as in Fund II. Lok Capital will continue to invest in the financial services sector, especially in small and medium enterprise lending businesses, affordable housing finance and financial technology.

3. Sequoia, Beenos and others fund $20 million into Voonik in series-B round

As per the latest update on the startup, Bangalore-based fashion app Voonik has secured $20 million in a Series B round of funding led by existing investor Sequoia Capital, Beenos and others. Voonik is an online marketplace operating in products for women’s fashion. Voonik was founded in 2013 by Sujayath Ali and Navaneetha Krishnan.

4. Indian music streaming service Saavn raises funding from U.S. music mogul Guy Oseary

Music streaming service Saavn, the startup, which is headquartered in New York with multiple offices in India, today announced an undisclosed investment from high-profile entertainment industry executive Guy Oseary, the man who manages U2, Madonna, and countless other top music acts.

5. Didi Chuxing outshines Uber, raises $7 Billion in latest funding round

Didi Chuxing, China’s biggest ride-sharing company has closed a massive $4.5 billion fundraising round. This round includes Apple $1 Billion infusion into the Uber rival recently. In addition, the company has also secured a $2.5 billion debt package from China Merchants Bank Co.

6. Ad-tech Startup Jivox raises $6 million funding from New York-based You & Mr Jones

Bangalore and California-based digital marketing and advertising platform Jivox which has its R&D centre in Bengaluru has secured USD 6 million in fresh funding from brand technology company You & Mr Jones, and its founder David Jones.

7. Queue management app Sminq raises $1 million from Saama, others

Pune-based Sminq India Solutions Pvt. Ltd, which runs Sminq that helps users avoid queues has secured $1 million (about Rs 6.7 crore) from Saama Capital, Blume Ventures and other investors. The app gives real-time information on queues at places such as doctors’ clinics and does away with the need to be physically present to hold one’s spot.

8. Silvan, a home automation startup raises around $900,000 in funding from Infuse Ventures

As per the latest development, Bangalore-based home automation startup, Silvan Innovation Labs, has raised about $900,000 in equity funding from Infuse Ventures. The idea of Silvan sparked in 2008 in the midst of the economic meltdown. Silvan’s founders Avinash Gautam, Giri Krishna, Nandakumar Raghavan and Mohan G., Silvan started the company with a view to make people’s lives safer and more secure. They kick-started their operations in Bangalore with a simple yet effective solution – Internet Protocol (IP) cameras with built-in intelligence to detect events automatically.

9. Microsoft all set to acquire LinkedIn for $26.2 billion, in an all cash deal

Microsoft is acquiring LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash. LinkedIn is a business-oriented social networking service. Founded in December 14, 2002 and launched on May 5, 2003, it is mainly used for professional networking. As of 2015, most of the site’s revenue came from selling access to information about its users to recruiters and sales professionals.

10. ClearTax raised Rs 80 Crore from SAIF Partners

In what is one of the biggest series A funding rounds announced this year, Online tax returns filing platform ClearTax has raised Rs 80 crore, from SAIF Partners. As part of the deal, Ravi Adusumalli, managing partner at SAIF, has joined the board of ClearTax’s Delaware, USA-based entity ‘Software is Correct’.

About Author

Biplab Ghosh

Biplab lives his life around technology and is particularly keen to explore the intersection of technology and human behaviour. Always looking for new ideas, and ways that can make things simpler. He is a geek with the flair for travel and has great passion for music and theatres.

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